Helping Companies Stay Relevant Through Diversification
When the recession took business away and forced layoffs (over 400 jobs) at a world-renowned luxury yacht builder headquartered in Vancouver, Wash., Christensen Shipyards Ltd. realized it needed to diversify its business or face the real possibility of closing its doors after over 25 year of operation.
After consultation with Symbios Principal, Scott M. Lindsay, Christensen formed a sister business — Renewable Energy Composite Solutions, LLC. (RECS) — to provide its composites manufacturing expertise to the renewable energy market. Scott advised RECS how to market its highly skilled workforce, composite expertise, vast manufacturing space and ideal location on the Columbia River to the renewable energy industry. Scott introduced RECS to its first three business partners and helped identify federal funding opportunities to further leverage the mutually beneficial relationship between RECS and its clients.
Within seven months, Scott helped RECS win a $1 million federal stimulus grant to fund retooling and production startup for manufacturing of vertical axis wind turbines and a $350,000 commitment in workforce retraining funds. The RECS project was one of 19 public and private projects selected from among 120 applicants. This award resulted in favorable media coverage and an increase in unsolicited request for proposals from domestic and international sources. The retraining funds also helped RECS and Christensen implement lean and sustainable manufacturing processes for both businesses that increased production and efficiency and reduced costs and delivery time… saving millions. RECS was also given the 2010 Manufacturing Innovation of the Year Award for Midsize Companies by Seattle Business Magazine and Impact Washington.
“When we decided to diversify into renewable energy manufacturing, Symbios Consulting helped us refine our focus, secure our first clients and get federal funding to retrofit our facility and retrain our workers. Symbios Consulting was critical to our initial success.” – Joe Foggia, President & Managing Partner of Renewable Energy Composite Solutions